Cheap talk with two senders and complementary information

This paper studies a cheap talk model in which two senders having partial and non-overlapping private information simultaneously communicate with an uninformed receiver. The sensitivity of the receiver’s ideal action to one sender’s private information depends on the other sender’s private information. We show that the senders’information transmissions exhibit strategic complementarity: more information transmitted by one sender leads to more information being transmitted by the other sender. JEL Classification: D23, D72, D83, L23